Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?
It is obviously not a form of gambling as it’s not a game of chances, I assume that both point 1 & 2 are needed to be classified as gambling and point 1 is not true. In case crypto currencies would classify as gambling than so should all the other financial assets we can buy and sell on exchanges. When buying stocks or commodities isn’t it the exact same thing as buying crypto currencies? I buy a financial product which value fluctuates freely and I hope that in the future the price will be higher than when I bought it. In all the cases it involves risk as the price could drop considerably overnight and would lead to a big loss. The reward we get through higher prices in the future is the compensation for the high risk we take to face a loss. If there are any constraints coming in the future, they should also come for people buying stocks and commodities, it's not fair to single out crypto currencies alone. For me the difference ebtween gambling and cryptos is that gambling happens in a fixed environemnt, the casino knows before the chances of winning and losing. Whereas with crypto currencies nobody knows the exact value of a currency beforehand and there is a lot of fluctuation in the market.